12 Best Medical Devices Companies in India 2022 | BizApprise (2024)

The evolution of medical devices companies in India has proven to be helpful to health care providers to detect, diagnose, and treat diseases & ailments.

Along with improving the quality of life, it plays a major part in any country’s economic as well as social development.

The Indian Medical devices and equipment market is currently valued approximately at 8 billion USD and is having a rapid phase of improvement with an increase in growth rate from 12% to 15% CAGR.

It has a CAGR value ranging from around 5% for the global medical equipment industry. India is among the top 20 global medical devices market and the 4th largest in Asia after Japan, China, and South Korea. (Source: IBEF)

Imported products dominate the market by accommodating around 70% of the total available resources. They vary in both their intended use and indications for use.

Table of Contents

List of Medical Equipment Manufacturers in India

Medical Devices Companies in IndiaYear of Estd.ISINMarket Value (Cr.)
POLY MEDICURE Ltd.1995INE205C010216,503
BECTON DICKINSON INDIA Ltd.1897US075887109172.0B

12 Medical Devices Companies in India

Based on their consumer satisfaction and quality, some of the most reliable and the best-rated medical device companies in India are stated here.

These companies tied up with some best Solar Panel Companies to use renewable energy in their plant.

1. Wipro GE Healthcare

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Established in the year 1945, Wipro GE Healthcare excelled with its performance in the market giving the best quality equipment and medicines for decades.

The company is the largest among medical devices companies in India providing equipment for imaging agents and radiopharmaceuticals. They have promoted the best drug research and patient monitoring technologies.

The Indian-based Wipro Company collaborated with the south Asian GE unit of health care services. Their total sales revenue and their performance from the year 2015 to 2019 range around 1M USD.

The company has set its footprints in almost all the arenas to create a healthier world.

  • They use the B1X5 series for diagnosis.
  • Vscan extended Poc ultrasound.
  • Centricity virtual care division for the management of infected individuals in an isolated and safe environment.
  • Automated equipment replacing conventional, slow techniques.

GE Healthcare Facts & Figures

  • Market Cap: 16,720 Cr. (2020)
  • Y-O-Y Growth: 11%
  • R&D Investment: 7,237 Cr. (2020)
  • Imaging, Mobile diagnostic, and Monitoring Units Worldwide: 4,000,000 units
  • Patients imaged every second: 3
  • Wipro ISIN: INE075A01022

It has high employment standards for biomedical service providers and has the best healthcare research hosting history. With complete adherence to six sigma quality products over the decades, their professionals have helped people across the country fight cancer and heart problems.

2. Centennial Surgical Suture Ltd.

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Centennial surgical sutures Ltd, established in the year 1995 is an inter alia and a manufacturer of quality sterile needles, with the state of the art manufacturing and packaging equipment. Its presence in the industry is maintained by skillful, competent staff.

This is the only medical devices companies in India dealing with eye care equipment.

They have grown vast since 1996, spreading to various parts of the country. Centennial Surgical is a listed company with high-profit rates and has met various insolvencies during the course of its journey. Total sales revenue of all of their branches ranges up to 78M USD as per the reports of March 2019. And a reported increase of 4% from 2016 to 2020 in their total financial status.

With their strict quality control paired up with care and dedication, they have managed to provide high-quality products. They also assure their potential consistency and determination to make a better place. Automation and machinated treatment have helped them gain the reputation of being one of the most approachable and accessible manufacturers in the country.

Centennial Surgical Suture Ltd. Facts & Figures

  • Market Cap: ₹22Cr.
  • Current Share Price: ₹60.90
  • High / Low: ₹60.9/29.0
  • Stock P/E: 21.4
  • Book Value: ₹79.9 Cr.
  • ISIN: INE405H01018

3. Cure Spects Lasers Ltd.

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First Gujarati pioneer LASIK surgical company established in the year 1995, they promise high-quality refractive LASIK surgeries for people around the country. Cure Spects has more than 16 years of experience in refractive procedures. With excellence in the field and a record of performing over 85000 LASIK surgeries, they remain the best place for LASER surgeries.

The technology they use was originally imported from European countries for safety purposes and consumer satisfaction. A wide range of defects could be treated effectively by their technologies.

With great performance in LASIK, Epi LASIK, and refractive eye surgeries, they have helped people reduce their dependence on eyeglasses. They are highly transparent with their details and provide sufficient information to the patients.

Cure Spects Facts & Figures

  • Market Cap: 23Cr.
  • Y-O-Y Growth: 7%
  • Total LASIK Surgeries: 85,000
  • Year of Experience: 16 Years
  • ISIN: INE730B01012

4. Johari Digital Healthcare Ltd.

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Johari Digital is a global Medtech company with 40+ years of expertise in medical device manufacturing.The manufacturing facility is in compliance with MDSAP, ISO 13485:2016, and FDA (21 CFR 820) standards, and processes. Their services range from design to development, electronics, and mechanical engineering, prototyping, system integration, packaging, and supply chain.

Additionally, Johari also helps clients with regulatory and compliance support to quickly take their products to market.Johari caters to its global clients from a 65,000 square foot, state-of-the-art medical device manufacturing facility in India along with an R&D Center in Europe.Johari’s versatile product development and manufacturing portfolio include innovative life science products, diagnostic devices, and therapeutic devices.

The company provides Contract Manufacturing solutions to global MedTech giants as well as innovative start-ups.The facility is equipped with advanced capabilities to manufacture complex to high-volume products.

5. Maestro’s Medline Systems Private Ltd.

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Maestros is India’s leading medical equipment organization with an aim to empower medical professionals across the country. They have specialized experts treating cardiac and gynaec problems with modernized technology without compensation.

Product Portfolio:

  1. Patient Monitors
  2. Electro Cardiographs
  3. Defibrillators
  4. Pulse Oximeters
  5. Spirometers
  6. Fetal Monitors
  7. Stress Test Systems

They have good reviews and performance reports among the patients. They use telemedicine software for diagnosis and also provide insightful disease management and treatment in remote locations.

They are highly wanted critical patient care professionals across the country. They have provided the best treatments and diagnoses since the year of establishment and have enabled opportunities for low-profiled people to get good quality health care services.

Maestro’s Medline Systems Facts & Figures

  • Market Cap: 33Cr.
  • Current Share Price: ₹75.40
  • PE Ratio: 18.24
  • Face Value: ₹10.0
  • ISIN: INE318N01011
  • ISO 9000 & ISO 13485 certification

6. Opto Circuits (INDIA) Ltd.

Opto Circuits (INDIA) Ltd. is a multinational medical device company headquartered in Bangalore, India. The stock trade is done publicly on BSE and NSE. They are experts in designing well-equipped medical devices and specialized in critical care providence across the globe.

OCIL runs offices in more than three countries. With their market spread around 150 countries, a wide range of CE-marked products and certified equipment dominate their sales. The Company has been ranked in Forbes’ Asia’s Best 200 companies in the biomedical field.

They reported a consolidated net loss of 7.83 Cr. in the year 2020. They convene board meetings and are constantly online to improve the quality of their services. Its stock percentage increased by 6% last year and has had high-performance reports lately. Total revenue ranges around 65M USD.

Opto Circuits Facts & Figures

  • Market Cap: 120Cr.
  • Current Share Price: 4.10
  • Sector PE: 65.01
  • ISIN: INE808B01016

7. Polymedicure Services Private Ltd.

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Polymedicure is envisioned to provide good quality health care to all. Passionate and highly skilled professionals carry the company’s prominent presence in the industry along with their highly equipped infrastructure. With the state-of-the-art technologically automated devices, they promise assured satisfaction among the patients.

Poly Medicure manufactures 120+ productswith their state-of-the-art methodology in ultra-modern facilities covering over 400,000 square feet of office area.Over a wide area of 100,000 square feet of clean rooms, they emphasize hygiene with their determination.

They have a highly insightful approach toward treatment in Oncology, Respiratory disorders, and infusion therapies. Poly Medicure has been helping people with dialysis for a very long time with their caring environment. With their profit rates increasing by 4% every year, they have crossed many insolvencies in the past years. High calibers set for employment opportunities have made them excel in services.

  • Market Cap: ₹ 6,503Cr.
  • Y-O-Y Growth: 14.6%
  • Current Share Price: ₹ 652.00
  • Dividend Yield: 0.29
  • EPS: 12.48
  • ISIN:INE205C01021

8. Becton Dickinson Private Ltd.

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Becton Dickinson commonly known as BD is among the list of medical device companies in India. It also manufactures and sells medical devices, instrument systems, and reagents. BD also provides consulting and analytics services in certain countries. It has a huge market in India with export and import units spread around the country.

The net income of the group has increased from 722 Million USD to 1044 M USD from the year 2006 to 2019. Formerly, the company had two business segments and now has extended its control over the third. Their employment rate has increased multifold in the last 10 years.

Their business unit has peripheral intervention injective materials and non-surgical syringes. Rated top among the equipment available for cardiac and pulmonary treatment methods, they manage to produce a large number of clinical instruments for hospitals around the world.

Becton Dickinson Facts & Figures

  • Market Cap: 72.039B
  • NYSE Listed Company
  • EPS: 5.26
  • PE Ratio: 47.17
  • ISIN: US0758871091

9. Siemens Healthcare Diagnostics

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Siemens Healthcare is the among newest medical device companies in India that provides digital assistance to people who seek high-quality invasive surgeries. Precision in diagnosis and careful delivery of treatment have made their status exquisite in the Industry. It possesses highly specialized professionals in labs and molecular science with proper transparency in its working process.

With around 5 million patients around the globe, they offer help in imaging, diagnostics, and advanced therapies. Good counselors provide stable advice on a daily basis to around 18000 people. They have collaborations with around 170 companies around the world.

They have global assets and have set their footprints in many countries. Their financial growth has been exponential lately increasing by 2% every year. Insolvencies were managed to be minimal in every aspect with their clear and determined working. Over 480000 employees are working in different units across the globe.

Siemens Healthcare Facts & Figures

  • Market Cap: 255 Cr.
  • Current Share Price:
  • PE Ratio: 38.54
  • EPS: 0.73
  • ISIN: DE000SHL1006

10. India Medtronic Private Ltd.

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With over 1100 employees in the country, India Medtronic excels in its operations in more than 10 cities. It is a wholly-owned subsidiary of Medtronic Pvt Ltd.

Their business revolves around cardiac surgeries, vascular, diabetic, and restorative therapies groups. The cardiac and vascular group encompasses CARH problems and the diabetic group focuses on cardio diabetics. Minimally invasive operations that involve early techniques have gained them a branded reputation.

They have IT parks in different cities. Their equipments are rated the top among the high-quality technicians. Highly qualified professionals carry the company’s reputation by managing to provide good quality caretaking.

Their total revenue is at about 30 billion USD and growth in profit rate by 4% approximately every year. Access to medical minimal invasive procedures has assured patient innovations. Regular monitoring with proper precision by individuals has helped them remain one of the top companies in India.

India Medtronic Facts & Figures

  • Market Cap: 673Cr.
  • Y-O-Y Growth Rate: 4%
  • PE Ratio: 41..36
  • EPS: 2.74
  • ISIN: IE00BTN1Y115

11. Transasia Bio-Medicals

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Transasia Bio-Medicals has developed its products and services but one thing that has remained constant is its service. 40 years of excellence in the field has brought them the reputation of being one of the best. It is headquartered in the social cosmopolitan city of Mumbai with the recognition for being the first in vitro diagnosis company in the country.

It offers solutions and products in Biochemistry, Hematology, Coagulation, ESR, Immunology, Urinalysis, Critical Care, Diabetes Management, Microbiology, and Molecular Diagnostics.

With 60% of their sales accounting for regular consumers, they offer innovative and insightful solutions to people. Their finances have gone up by 3.8M USD from 2008 to 2018 with their profit rates increasing at a rate of 2.5% every year.

They have a very neat portfolio with over 5000 employees working towards their expanded goals. Have national assets valuing up to 7 cr. and promising infrastructure for best health care providence. It is also among the top 50 globally best in vitro diagnostic clinics.

Transasia Bio-Medicals Facts & Figures

  • Market Cap: 2.35Cr.
  • Y-O-Y Growth: 2.5%
  • ISO 9001:2008 & ISO 13485:2003 accreditations
  • ISIN: INE321C01018

12. Hindustan Syringes and Medical Devices

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Since its year of establishment, HMD Healthcare is one of the best medical devices companies in India providing cutting-edge quality medical devices for decades. It has set a benchmark in the globally demanding market with its innovation and methods. As an internationally known company, HMD aims at improving its performance to make them compete with global standards.

High-quality hypodermic syringes, IV labels, and good single-use syringes are produced in large amounts by HMD every year. Proper transfusion methods and qualified professionals working coercively contributed to their position in the industry.

With their asset value of about 60BUSD, their work in different areas is managing their image. Certified by ISO and ICMED, they produce 60 products every year. Their profit rate has increased by 5% in a period of 10 years. They have over 40,000 employees in different segments working towards their vision.

Hindustan Syringes Facts & Figures

  • Market Cap: 36.5Cr.
  • ISO 9001, ICMED 13485, ISO 13485 & MDSAP
  • Y-O-Y Growth Rate: 5%
  • ISIN: Not Listed

Final Thoughts on Medical Equipment Companies in India

The above data on all medical device companies in India is transitional and has been recorded from the official websites of various companies. They are ranked based on their performance in the market and their profit and loss analyses.

Also, the products and after-sales services offered by these companies are tremendous. I tried to provide maximum information from my end and if you have any suggestions, drop a comment in below comment box.

12 Best Medical Devices Companies in India 2022 | BizApprise (2024)


Which company is best for medical equipment in India? ›

The top 10 Medical Device companies in India are the following:
  • Johnson & Johnson.
  • Novartis AG.
  • Abbott Laboratories.
  • Medtronic PLC.
  • Baxter International.
  • Danaher Corporation.
  • General Electric.
  • 3M Company.

Which company is best for medical equipment? ›

Top 10 Medical Device Companies in the World in 2022
  • Medtronic.
  • Johnson & Johnson.
  • Abbott.
  • Philips.
  • GE Healthcare.
  • BD.
  • Siemens Healthineers.
  • Cardinal Health.
23 Apr 2022

Who is the leading medical device company? ›

1. Medtronic $31.7bn +8% Medtronic once again tops the list as the largest medical device company in the world. With a workforce of over 90,000, operating in 150 countries, Medtronic is at the forefront of medical technology.

What are the top 3 most important advances in medical technology? ›

Here, in order of anticipated importance, are the Top 10 Medical Innovations for 2022:
  • Next Generation of mRNA Vaccinology. ...
  • PSMA-Targeted Therapy in Prostate Cancer. ...
  • New Treatment for the Reduction of LDL. ...
  • Novel Drug for Treatment of Type 2 Diabetes. ...
  • Breakthrough Treatment for Postpartum Depression.
16 Feb 2022

What is the best technology for 2022? ›

Top Technologies To Adopt and Learn In 2022
  • Augmented Reality & Virtual Reality (AR & VR) ...
  • Cybersecurity. ...
  • 5G Network. ...
  • IoT (Internet of Things) ...
  • Machine Learning (ML) ...
  • Fintech. ...
  • Cloud Computing. ...
  • Voice Assistance. Voice assistance platforms and software are highly popular these days.

Which is the No 1 medical In India? ›

Top Medical Colleges in India 2022
NIRF Ranking 2020Name of the CollegeScore
1All India Institute of Medical Sciences, Delhi90.69
2Post Graduate Institute of Medical Education and Research, Chandigarh80.06
3Christian Medical College, Vellore73.56
4National Institute of Mental Health & Neurosciences, Bangalore71.35
6 more rows

Which company makes medical equipment in India? ›

List of Top Medical Equipment Manufacturers in India
S NOCompany NamesSecurity Code
5 more rows
25 Sept 2021

Who approved medical devices? ›

In the U.S., FDA regulates the sale of medical device products. Before a medical device can be legally sold in the U.S., the person or company that wants to sell the device must seek approval from the FDA.

Is medical device a good industry? ›

It is also one of America's strongest and fastest-growing manufacturing sectors, creating and producing medical innovations for use around the world—and providing good-paying jobs across the country.

What company makes medical devices? ›

The 2022 version is ready and live online. Click here to review the latest Top Companies list!
1. Johnson & Johnson$25.1B
2. Medtronic$20.2B
3. GE Healthcare$17.6B
4. Siemens Healthcare$14.5B
26 more rows
16 Aug 2016

Which medical software is best? ›

The Top 6 Best Medical Software
  • Kareo – Best for Independent Practices.
  • DrChrono – Best for Revenue Cycle Management.
  • athenahealth – Best for Care Coordination.
  • RXNT – Best for Practice Management.
  • NextGen Healthcare – Best for Large Practices.
  • WebPT – Best for Physical Therapy Practices.
26 Feb 2022

What is a medical device company? ›

Medical device companies develop medical devices and surgical instruments to diagnose, treat, or prevent various medical conditions. Examples of medical devices include pacemakers, artificial joints, ventilators, stents, tough depressors, etc.

What are 5 common technological devices used in healthcare? ›

  • Automated IV Pumps. Automated IV pumps control the dosages and drips given to patients. ...
  • Portable Monitors. ...
  • Smart Beds. ...
  • Wearable Devices. ...
  • Electronic Health Records. ...
  • Centralized Command Centers. ...
  • Telehealth and Apps.
1 Mar 2021

What are the future trends of medical devices? ›

High-tech high-threshold medical materials: high-end imaging medical materials, minimally invasive medical materials. Aging medical materials: Fillings for dentistry, orthopedics, ophthalmology, etc. Medical materials with high growth potential: Smart medical, mobile medical wearable devices.

What is the future of medical technology? ›

We will continue to see more advanced technology such as artificial intelligence (AI) and machine learning (ML) leveraged for predictive analytics in healthcare. Valuable tools that are constantly undergoing innovation, AI and ML can help enable potentially life-saving predictions for patients.

Which technology is best in future? ›

Artificial intelligence will become more prevalent in 2023 with natural language processing and machine learning advancement. Artificial intelligence can better understand us and perform more complex tasks using this technology. It is estimated that 5G will revolutionize the way we live and work in the future.

Which IT skill is most in demand? ›

Here is the list of the most in-demand and trending tech skills that will offer you a successful career:
  • Data Science.
  • Cloud Computing.
  • Artificial Intelligence.
  • DevOps.
  • Blockchain.
  • RPA (Robotic Process Automation)
  • Augmented Reality (AR) and Virtual Reality (VR)
  • Cybersecurity.
22 Sept 2022

Which IT field is best for future? ›

5. Which IT field is best for the future? Technologies such as artificial intelligence, cloud computing, data analytics, and machine learning have been growing rapidly over the years. With the rise of the pandemic and the global health crisis, they have become essential in today's society.

What inventions are coming out in 2022? ›

Best New Inventions 2022
  • Color Changing Cars : BMW IX Flow. ...
  • Humanoid Robot : Ameca. ...
  • Smart Bathing : PerfectFill. ...
  • Foldable Tech Devices : Zenbook, Galaxy flip, etc. ...
  • COVID-19 Breathalyzer Test : ViraWarn Freedom. ...
  • Health Body Scans : Withings body scan. ...
  • Digital Twins. ...
  • Flying Vehicles : SkyDrive's flying vehicle.
2 days ago

What are the healthcare trends for 2022? ›

“In 2022, I expect healthcare providers themselves will strengthen and formalize training to research and promote telehealth best practices to their clinicians. It's already happening, and I expect to see specialties like mental health and urgent care shifting to a predominantly virtual model in 2022.”

What are new healthcare technologies? ›

Artificial Intelligence (AI) technology is being used in the diagnosis of diseases, as well as to offer customized solutions. For instance, it is being used to drive systems that process computed tomography scans by the thousands, in a mass detection scenario, as in COVID-19.

What is the latest in technology? ›

Artificial Intelligence (AI) is a trending technology that takes first place in the list of top 10 latest technologies in computer science of 2021. AI technology involves machine intelligence, which is as smart and intelligent as the human brain and reacts like humans.

What are the upcoming products? ›

Here are eight innovative products coming out in 2022 that we are excited about.
  • Body Scan – Withings.
  • PerfectFill – KOHLER.
  • Bespoke French-Door Refrigerator – Samsung.
  • The Freestyle – Samsung.
  • Movano Ring – Movano.
  • Encode Plus Smart WiFi Deadbolt – Schlage.
  • Eco Remote – Samsung.
  • Cypress Hero Backpack – Targus.
17 Jan 2022

What are 4 current trends in health care? ›

Investing in community-led solutions to address health inequity. Enforcing a data ecosystem that promotes equity-driven decision making. Increasing accountability for health equity outcomes. Investing in a representative health care workforce.

What are the 5 trends in healthcare? ›

Top 5 Healthcare Tech Trends Poised for Growth in 2022
  • Hybrid care models combining virtual and in-person services. ...
  • Digitization of healthcare specialties. ...
  • Increased AI adoption. ...
  • Health systems moving to the cloud. ...
  • Advanced precision medicine.
5 Jan 2022

What is current medical trend? ›

Where is the medical cost trend headed in 2022? PwC's Health Research Institute (HRI) is projecting a 6.5% medical cost trend in 2022, slightly lower than the 7% medical cost trend in 2021 and slightly higher than it was between 2016 and 2020.

What are the future trends of medical devices? ›

High-tech high-threshold medical materials: high-end imaging medical materials, minimally invasive medical materials. Aging medical materials: Fillings for dentistry, orthopedics, ophthalmology, etc. Medical materials with high growth potential: Smart medical, mobile medical wearable devices.

What are 5 medical inventions? ›

Just take a look at some of the greatest medical discoveries in history and how they still benefit us today.
  • Vaccination. ...
  • Anaesthesia. ...
  • Epidemiology. ...
  • Germ theory. ...
  • Insulin. ...
  • Gene therapy. ...
  • 3D printing.

What is the future of medical technology? ›

We will continue to see more advanced technology such as artificial intelligence (AI) and machine learning (ML) leveraged for predictive analytics in healthcare. Valuable tools that are constantly undergoing innovation, AI and ML can help enable potentially life-saving predictions for patients.

What are 5 common technological devices used in healthcare? ›

  • Automated IV Pumps. Automated IV pumps control the dosages and drips given to patients. ...
  • Portable Monitors. ...
  • Smart Beds. ...
  • Wearable Devices. ...
  • Electronic Health Records. ...
  • Centralized Command Centers. ...
  • Telehealth and Apps.
1 Mar 2021

Which AI used in healthcare? ›

A common use of artificial intelligence in healthcare involves NLP applications that can understand and classify clinical documentation. NLP systems can analyze unstructured clinical notes on patients, giving incredible insight into understanding quality, improving methods, and better results for patients.

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